Loan Amortization

May 12, 2009

My daughter, a freshman in high school, is just completing her first programming class, using Java. Her final assignment was to write a program to print a loan amortization table, given an initial balance, annual interest rate, term in months, and monthly payment.

Your task is to write that program (you are not restricted to Java), then print the amortization table for a three-year car loan of $10,000 at 7% (it’s an old textbook). When you are finished, you are welcome to read a suggested solution, or to post your solution or discuss the exercise in the comments below.

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